"Black Friday a Ruse; Gold's Long-Term Trend Unchanged"

People often talk about "Black Friday." In fact, I personally don't believe in it and don't want to listen to this facade. Whether it's gold, crude oil, or silver, corn, pork, and so on, I hold the attitude that there are always reasons for things to happen.

Looking at the current market situation, it can only be said that after the Asian market, the European market took over and began to adjust and fall. This sets the tone for today's direction. Personally, I am still looking forward to the market falling below 2600 next week.

In terms of the daily line, I still adhere to the statement from this morning: as long as it doesn't close above 2640, we can continue to hold our short positions.

Firstly, looking at today's market, according to the analysis of trading volume, gold is highly likely to fluctuate around 2635 and then return to 2630. The subsequent trend of gold will be a step-down decline. So, we firmly defend 2652 on the upper side, and there is a good chance on the lower side. It is normal to have small fluctuations or small hills and bowls in the middle, but the big fluctuations still follow the trend I have drawn.

From a fundamental perspective, Israel is about to make some big moves, so everyone should still be cautious about Israel really causing trouble. If there is trouble, gold will again be a safe haven, demand will rise, and then it will head north. So, in fact, I pay more attention to the impact of the fundamentals. Because this morning, no matter whether it was the high hanging star or the high-level death cross of various indicators or the top divergence, no matter which signal pointed to a decline, it was met with a rise instead. The market still doesn't play by the rules, making people exclaim: This is not scientific!

In summary, today's focus should be on the impact of the fundamentals to avoid the market making a comeback.

We firmly defend 2652 on the upper side, and on the lower side, we see fluctuations between 30-33. Whether it can break through depends on the technical indicators and the impact of the fundamentals.

Here are some points for everyone to organize:

Resistance above 2652. Be aware of reversals and take short positions.

2640 is an important pivot. If it breaks upwards, chase to the north.Support at 2632 below. It is highly likely to fluctuate upon arrival, so pay attention to the subsequent market movements.

The next bearish target position is at 2625.

Focus on the level below 2617. It will become the new round of support.